There are many things you can do in TextPipe that you just cannot do with PowerGrep:
But keep in mind, that PowerGrep and TextPipe were both designed with different end uses in mind.
PowerGrep comes from the angle of grep's main purpose - that of extracting lines that match or don't match a pattern.
TextPipe comes from the angle of an automated stream editor - which includes grep functions as a base layer. As such, TextPipe's architectural difference already has a massive leg-up over power grep.
Powergrep 'Sections' (copied from TextPipe's Restrictions) - you can only do three levels. TextPipe allows unlimited levels, and also allows you to easily restrict to line ranges, column ranges, Tab and CSV fields ranges, HTML and XML elements and attributes, matching and non-matching lines and more
PowerGrep - doesn't support EasyPatterns
powergrep - can't sort files
power grep - cannot perform any code page or Unicode conversions, or EBCDIC to ASCII, or OEM to ANSI or anything else
mainframe data - powergrep cannot work with mainframe copybooks
...and many more features that you will ONLY find in TextPipe Pro.
TextPipe is the best alternative to PowerGrep, and has way more features then powergrep anyway.
We also have a less expensive TextPipe Standard, which still has more features and power than PowerGrep.